Thames Valley – focus on tax

11/04/16

Forthcoming Leonardo DeCaprio epic ‘The Revenant’ captures the essence of an infamous period in American history for adventure. Hundreds of thousands of ambitious youngsters trekked across the spaces of the North American continent in the pursuit of riches, with the gold rush driving entire families thousands of miles in order to strike it big. While these journeys were often risky, many great fortunes were built beyond the Mississippi by adventurous and enterprising folk, whose pioneering spirits laid the foundations for the American Dream.

Of course, London-based accountants may not be able to strike it rich panning for gold in the valleys of the Sierra Nevada in 2016, but heading into previously unchartered Western territories could still unlock them serious treasures. The economy of the Thames Valley is becoming something of a success story recently, as smart start-ups and major players alike look for good value and proximity to the capital. 94% of businesses in the region are looking to increase their headcounts over the next year, which has given rise to a spike in businesses’ needs for tax services.

During the recession, many larger employers in the region reduced their graduate intakes significantly, meaning there is now a shortage of specialists with 3-4 years’ experience in the region. As a consequence, firms are often paying comfortably above the market rate. Our 2015 market salary & trend report reveals that average tax packages in the region can be very attractive, with managerial roles generally paying £55,000 as a minimum.

The region is still playing catch up with the London market, but the omens are definitely good for the Thames Valley’s continued economic development. Those willing to take the leap stand to reap the benefits.